A number of other hedge funds and other institutional investors also recently made changes to their positions in MPC. Gleason Group Inc. boosted its holdings in shares of Marathon Petroleum by 75.2% in the 3rd quarter. Gleason Group Inc. now owns 191 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 82 shares in the last quarter. Mascoma Wealth Management LLC bought a new position in Marathon Petroleum in the third quarter valued at about $43,000. Peoples Bank KS acquired a new position in Marathon Petroleum during the third quarter worth about $44,000. True Wealth Design LLC bought a new position in shares of Marathon Petroleum in the fourth quarter worth about $38,000. Finally, Pacifica Partners Inc. acquired a new stake in shares of Marathon Petroleum in the 3rd quarter valued at approximately $53,000. 74.93% of the stock is currently owned by institutional investors and hedge funds.
Marathon Petroleum Trading Down 0.3 %
MPC stock traded down $0.52 during midday trading on Friday, hitting $169.16. The stock had a trading volume of 890,014 shares, compared to its average volume of 2,959,843. The company has a current ratio of 1.67, a quick ratio of 1.20 and a debt-to-equity ratio of 0.83. The business has a fifty day moving average price of $154.41 and a two-hundred day moving average price of $149.38. Marathon Petroleum Co. has a 1-year low of $104.32 and a 1-year high of $173.32. The firm has a market cap of $64.23 billion, a P/E ratio of 7.21, a price-to-earnings-growth ratio of 1.97 and a beta of 1.51.
Marathon Petroleum (NYSE:MPC – Get Free Report) last issued its earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $1.77. The business had revenue of $36.26 billion during the quarter, compared to the consensus estimate of $34.90 billion. Marathon Petroleum had a return on equity of 30.21% and a net margin of 6.44%. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period in the previous year, the company posted $6.65 earnings per share. On average, sell-side analysts predict that Marathon Petroleum Co. will post 14.38 earnings per share for the current fiscal year.
Marathon Petroleum announced that its Board of Directors has approved a share buyback plan on Wednesday, October 25th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas company to repurchase up to 8.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
Marathon Petroleum Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 11th. Investors of record on Wednesday, February 21st will be given a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Tuesday, February 20th. Marathon Petroleum’s payout ratio is currently 14.02%.
Insider Buying and Selling at Marathon Petroleum
In other Marathon Petroleum news, VP Carl Kristopher Hagedorn sold 1,436 shares of Marathon Petroleum stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $146.81, for a total transaction of $210,819.16. Following the completion of the transaction, the vice president now owns 5,480 shares in the company, valued at approximately $804,518.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.28% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the stock. Wells Fargo & Company upgraded shares of Marathon Petroleum from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $159.00 to $169.00 in a research report on Thursday, December 14th. TD Cowen increased their price target on Marathon Petroleum from $168.00 to…
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